(EXPIRED) [Back] Great deal: Convert Alaska wallet funds to miles at 1c per mile

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Update 11/7/20: As was reported by several members of our Frequent Miler Insiders Facebook group yesterday, through November 13th Alaska is once again offering the chance to convert wallet funds to miles at a value of $0.01 per mile. This is again a great deal.

Update: Miles to Memories confirmed with Alaska Airlines that anyone with a wallet balance of $50 or more will receive this offer.

Frequent Flyer Bonuses reports that some Alaska Mileage Plan members have been targeted via email with an offer to convert Alaska Airlines wallet funds (flight credit) to miles. The conversion rate is terrific at $0.01 per mile! That’s a great deal for those targeted. I would jump on that offer in a heartbeat if I had Alaska wallet funds and was targeted. Note that Alaska has published a press release about this promotion, so it is possible that everyone with a wallet balance will be targeted (though you can’t game this as newly-created wallet funds will not be eligible).

Converting $500 in Alaska funds for enough miles to fly for 15 or 20 hours like this would be quite a deal.

The Deal

  • Targeted Alaska Mileage Plan members have received an email offer to convert Alaska Wallet funds (airline credit) to Mileage Plan miles at a rate of $0.01 per mile in increments of 25%, 50%, 75%, or 100% of their wallet balance through November 13 at 11:59pm PT.

Key Terms

  • Offer valid through November 13, 2020 11:59 pm (PT).
  • Qualifying members who receive this offer directly from Alaska Airlines via email can exchange Alaska wallet funds in increments of 25%, 50%, 75%, or 100% of their current wallet balance for Mileage Plan bonus miles at an exchange rate of 100 miles per $1.
  • Bonus miles are redeemable for award travel, but do not count toward elite status qualification.
  • All wallet exchanges for miles are final, and wallet credit once redeemed is not refundable.
  • If wallet balance at the time of debit is below what is needed to cover the exchange, the exchange will be canceled.
  • Offer cannot be combined with any other offer.
  • All Mileage Plan terms and conditions apply.
  • Mileage Plan miles do not expire, but if a Mileage Plan account is inactive for 2 years, Alaska Airlines may close the account; miles in a closed account can be reinstated for a fee for up to 1 year after closure.
  • Exchanging wallet credit for Mileage Plan miles pursuant to this offer does qualify as account activity, so your Mileage Plan account will remain active for at least 2 years after the effective date of the exchange.

Quick Thoughts

As Frequent Flyer Bonuses points out, someone with $500 in Alaska wallet funds who is targeted for this could convert those funds to 50,000 Alaska Mileage Plan miles with this offer. That’s enough miles for a one-way business class ticket to/from Asia on Cathay Pacific — or almost enough for a one-way business class ticket to Australia on Qantas or Fiji Airways (which requires 55K miles). And remember that Alaska Airlines allows a stopover on a one-way award ticket. Either of those types of redemptions would obviously be far more valuable than $500 in airline credit.

Obviously we don’t know when international travel will return to a state resembling normal, so perhaps some focused primarily on domestic travel will prefer keeping the wallet funds, but personally I’d gamble on taking the miles. With Alaska joining oneworld, there is some chance (and perhaps likelihood) of award chart changes in the coming months, but I’d expect to have an opportunity to use these miles before changes are made.

Keep in mind that this offer only runs through November 13th, so jump on it before it is too late if you’re interested.

Once again this time the terms specifically address those tempted to game the system: it says that members who newly receive wallet credit during the promo period will have any attempt at conversion to miles canceled. It looks like you won’t be able to buy a gift certificate or a ticket and cancel to take advantage of this. If we knew for sure that they would run this again in the future, it would make those discounted Alaska gift cards at Costco all the more attractive. Unfortunately, we don’t know that they’ll run this again.

Overall, this is a fantastic deal for those who can take advantage.

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